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BREAKING NEWS

Obama: US economy 'not doing fine,' action needed

By REUTERS

JUNE 8, 2012 22:09

WASHINGTON - US President Barack Obama said on Friday that more action was required to lift US growth and stressed that "it is absolutely clear that the economy is not doing fine."

Obama was speaking to reporters after Republicans pounced on his comments from a press conference that the private sector was "doing fine" and that US economic weakness was mainly rooted in state and local governments, the housing market and construction.

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